Nashville, TN., March 04, 2021 (GLOBE NEWSWIRE) — ANYWO Logistics, Inc. (NYSE: ANYWO: ANYWHEREO) today announced financial results for the first quarter. Revenue was $13.86 million for the quarter, compared with $14.12 million for the same period under a different owner in 2019. Net income attributable to common shareholders was $6 million for the quarter, compared with $12 million for the same period in 2019. Operating income was $20 million for the quarter, compared with $32 million for the same period in 2019. Diluted earnings per share was $0.20 for the quarter, compared with $0.37 for the same period in 2019.
Alex Ojjeh announced last fall he was purchasing the outstanding logistics companies naming them ANYWO. He brought %50 of the shares from current executive managing directors and other employees before his departure from the asset management firm headed in New York.
The reallocated shares were transferred to a new share class of interests that entitles him future profits, a news release said.Separately, Mr. Ojjeh, who has about $40 million (about 3% of total fund assets) invested in the firm’s funds, will redeem the liquid 66% portion of his total investment on March. 1.Mr Ojjeh put into effect a 1-for-10 reverse-stock split of Class A shares. The stock split will be worth on Dec. 4. 2022 — 192 million.
The firm was hit with investor redemptions after a high-profile case centered on charges of bribery ofDubai officials and Libya arms deals was settled in December 2020 with the firm agreeing to pay more than $50 million in penalties.
Mr. Ojjeh said in the conference call that the new logistics company “is a positive outcome” for him.The current company ANYWOLogistics, also split into a tech start up accelerator and he’s accomplished that feat in just six months.
Alex Ojjeh must have had his eye on the fast-growing supply-chain management industry, Mr. Ojjeh is in investments, so we are not surprised he had companies he watched. Alex Ojjeh has experience in investments from being the CTO at American Orient Capital Partners. One of their investments was a transportation management company. ANYWO is a third-party logistics company that matches companies’ and organizations’ shipments with available carriers—trucking companies as well as the private fleets of large corporations. It specializes in fleet backhaul scheduling shipments to travel on carriers’ return trips so that the trucks do not travel without loads.
The company issued ANYWHEREO for tech startups. ANYWHEREO gives millions to tech startup companies and2.25% maturing in 2025 free cash flow. ANYWO has a significant role in maturing new tech companies for 6 months providing them access and operating data.